Aniket Shirke

Zepto announces its $ 665M Series F financing at a $3.6bn valuation yesterday. They started as KiranaKart (part of YC's W21 program) & re-branded to Zepto; the firm has defied all funding winters with crazy momentum ⤵️ June '20: $50K Contrary Capital fellowship Nov '20: $125K YC W21 program  Jan '21: $700K Seed round Oct '21: $60M Series A/B round Dec'21: $100M Series C round May '22: $200M Series D round Aug '23: $200M Series E round Zepto's investors include Y Combinator, Nexus Venture Partners, StepStone Group and even Glade Brook Capital (former investor in Zomato). 📈 And, their metrics in the last few months have been astounding: (1) ~4.5M (i.e. 45 Lakh) Zepto Pass subscribers in 3 months - Initially this was free, then they began charging > ₹99 per month (2) 75% of ~350 dark stores are EBITDA positive - Time to EBITDA breakeven per store is down from 23 months to 6 months (3) ~28% market share in Quick Comm - Impressive given they are an independent company (versus Instamart or Blinkit) ✅ And, Zepto is just getting started:  (a) Entry in non-metro cities next (b) Entry into private label (Zepto Cafe & Meats) (c) Going to x2 the number of dark stores ➡ What I've seen lately in the key metro cities: There is a shift from e-comm to QC. I think it is only going to accelerate as QC co's bring in more categories & tap into long tail SKUs via larger warehouses.. Product searches first moved from Google to Amazon, now they may move from Amazon to Zepto et al. incredible to see how the Power Law plays out - these folks are going to change Commerce in India. Congratulations Aadit, Kaivalya + team Zepto! #startups #india #venturecapital

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360 ONE Wealth has successfully acquired Times Internet's ET Money . The value extracted from this acquisition is notably low. Discussions on ET Money's wealthtech development revealed poor monetization goals. It seems that Direct MF is not sustainable and perhaps should not even exist. Direct to consumer investment tech is not still completely favouring investors. Investment with assistance sound more pratical to me. #WealthManagement #Acquisition #investtech #fintech

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When the visionary behind Aadhaar and UPI speaks about the future of AI, especially Generative AI, ignoring it comes at your own peril. People+ai Nandan Nilekani. My 5 key takeaways from Nandan Nilekani's insights at the Making an Adbhut India event: 1. "With Gen AI, you’ll have to start from a blank page again" – The landscape is wide open, and it's time to rethink everything. 2. "Get started, you’ll perfect it later" – Perfection is a journey, not a starting point. 3. The (A)I Promise of being responsible – Responsibility is the backbone of this new wave of AI. 4. "India aka Bharat will be the AI use case capital of the world" – The world is watching us for breakthroughs and innovation. 5. "We’re at an inflection point of learning how machines learn better" – The intersection of human and machine learning is here. And the most powerful message of all: AI won’t change the world, YOU will." – Technology is the tool, but it’s the people who drive real transformation. Link of the video:https://lnkd.in/gvn5XXRw #GenerativeAI #AI #Innovation #TechForGood #StartupJourney #AIIndia #Leadership #FutureOfAI #MachineLearning #IndiaTech #TransformationalTech #startupindia #konproz

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✨ Breaking: Alkemi Growth Capital Announces New Fund.- Alkemi Growth Capital A women-led healthcare-focused fund in India, led by Alka Goel, planning to launch a second fund. Alkemi Growth Capital For the ❤️ of Startups #Fusion42 #Startups #Founders #Venturecapital

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Interesting article by ET Prime on Softbank’s evolving investment strategy based on The Arc scoop on the Ultrahuman deal Thanks for citing us, Manu P Toms 🙏 More on what’s working for Ultrahuman and the round here - https://lnkd.in/gcQimTAS

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The #Pyramid of #Wealthy in #India. Which layer are you in? Which one are you shooting for in the next 10, 20, 30 years? Note: Too many people shoot too low. DoorDarshi India Fund DoorDarshi Advisors

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If you thought INR has not been doing well compared to Dollar, then just read this. INR’s performance has been pretty strong in these last few months. INR was amongst the best where it depreciated by just 0.6% compared to EURO which was 4.1%. (𝐜𝐡𝐞𝐜𝐤 𝐭𝐡𝐞 𝐢𝐦𝐚𝐠𝐞) This is a big positive for our economy as stable currency gives confidence to investors. 𝐖𝐡𝐚𝐭 𝐡𝐚𝐬 𝐛𝐞𝐞𝐧 𝐡𝐚𝐩𝐩𝐞𝐧𝐢𝐧𝐠 𝐢𝐧 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐦𝐚𝐫𝐤𝐞𝐭𝐬 𝐰𝐡𝐢𝐜𝐡 𝐥𝐞𝐝 𝐭𝐨 𝐯𝐨𝐥𝐚𝐭𝐢𝐥𝐢𝐭𝐢𝐞𝐬 𝐚𝐜𝐫𝐨𝐬𝐬 ? 🎯 Trump Trade which took place pre & post election results, where there was a shift in market behavior and investor actions in response to the economic policies and political moves associated with a potential Trump presidency, e.g. Tariffs 🎯 Geopolitical situations flared up between Israel, Palestine & Iran. 🎯 Oil prices momentarily shot up from $70 to $80 per barrel. 🎯 Interest rate cuts expectations changed across economies due to expected heightened volatilities. 🎯 FII massive outflows from Emerging markets due to increased US yields & subsequent strengthening of the dollars.   𝐒𝐨 𝐰𝐡𝐲 𝐝𝐢𝐝 𝐈𝐍𝐑 𝐝𝐨 𝐛𝐞𝐭𝐭𝐞𝐫 ? ⭐ While we did hear about FII outflows, FII outflows did not happen much from India compared to other peers, keeping INR in check. ⭐ Unlike other countries, India did not prematurely go for rate cuts which could have otherwise weakened the INR compared to the dollar. ⭐ At the fiscal deficit level, India continues to do better and hence the confidence amongst the FII holds ground. ⭐ Inflation in India was more food led rather than non-food, which provided further comfort as food inflation is expected to reduce post healthy rainfall & crop season. We at MIRA Money constantly keep sharing insights based on our readings & assessments, discussion with Mutual Fund / AIF’s Fund managers and other Industry experts.   For more such posts follow Mohit Bagdi & MIRA Money

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My new piece is up on The Story Board!! This is the 1st segment of a two-part essay diving into Account Aggregators— the new addition to the Indian fintech landscape. Account Aggregators have been discussed with much fervour in the past 3 years, and have been heavily touted as “the next UPI”. To find out if that is truly so, give this essay a read as I explore: 1️⃣ What Account Aggregators even mean 2️⃣ The AA workflow breakdown through the life story of Saha, an average Indian resident 3️⃣ Existing and possible use cases of the AA infrastructure Let me know your thoughts/questions and stay tuned for part 2, where I lay out the traction and adoption of the AA technology, existing and potential revenue models for monetization, and the actual incentives for financial institutions to join this ecosystem. 

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Finally, not a REPO but a 50 bps CRR. The RBI’s latest MPC meeting delivered a subtle yet impactful move: a 50 bps cut in the CRR. Cutting this reserve releases ₹1.16 lakh crore into the banking system, giving banks more freedom to lend. Isnt it? Here’s why this matters: With less money locked up with the RBI, banks can channel more funds into loans for businesses and individuals, boosting sectors like housing, infrastructure, and manufacturing.   This injection could stimulate credit demand and fuel growth across key industries. Think of it as fresh energy for India’s growth engine.   Banks can now earn interest on funds that would’ve otherwise been idle—strengthening their bottom lines in the process.   However, this move comes with a balancing act: ensuring that increased lending doesn’t compromise asset quality or disrupt financial stability. As someone immersed in business strategy, I see this as a smart intervention by the RBI—aligning liquidity needs while staying cautious about inflation. I am keen to know views of Banker Friends here. What’s your take on this? Does it mark the beginning of a more aggressive growth push? #rbi #mpc #indianeconomy    

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Next week #startup #investors with a collective portfolio of $100 Bn+ are joining us at the #MoneyX conference in Gurugram. Excited to be hosting the phenomenal investors – Hiro Mashita-san, Manish Kheterpal and Rajesh Sawhney for a panel discussion on 𝙏𝙝𝙚 𝙂𝙧𝙚𝙖𝙩 𝙄𝙣𝙙𝙞𝙖𝙣 𝙀𝙭𝙞𝙩 𝙎𝙖𝙜𝙖. #2024 is shaping up to be the year that redefines how startups scale, exit, and create generational wealth. We'll be decoding trends of #unicorns hitting the public markets and secondaries booming like never before. 🚀 Want to know which sectors are the hottest for IPOs or when to hold vs. when to fold? This conversation will give you the insider's edge on how to time your exit like a pro. 🦄 Get your conference pass here – https://4-2.co/47xetuA Vaibhav Vardhan, Pooja Sareen, Utkarsh Agarwal, Sahil Goel, Harshil Khatter, Pratham Nagpal #ExitStrategies #IPO #VC

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The INR 12,864 crore investment in Reliance Retail by Abu Dhabi Investment Authority (ADIA) is only the beginning of wealth creation enabled by Sovereign Wealth Funds(SWFs). Here’s what you need to know about SWFs – SWFs are instrumental in creating wealth for economies and their nationals. SWFs usually invest the state’s surplus revenue in a diverse range of assets to create long-term wealth and economic stability for its citizens. What is interesting is that SWFs are making bold moves, and India has become one of their top destinations. Just last month, ADIA, the largest sovereign wealth fund in the United Arab Emirates(UAE), started operations in India's GIFT City . They have already committed to investing USD 75 billion in Indian projects, including a USD 4-5 billion allocation through the GIFT City. SWFs manage over a staggering USD 12.6 trillion worldwide, and their investments in India can drive growth across industries. Currently, we are seeing high interest in the infrastructure, technology and sustainable energy sectors.  In the latest newsletter, I have covered- ➡️ The global significance of Sovereign Wealth Funds (SWFs)  ➡️ How the top 3 SWFs invest  ➡️ What makes India a leading destination for SWF investments ➡️ Sectors in India that are drawing the attention of the biggest SWFs The message is clear: India’s potential is on the global radar, and Sovereign Wealth Funds are betting on it. 🔗 Read the complete analysis here: https://lnkd.in/d3jtAvt7 Join 300,000+ wealth creators who receive our weekly insights on investing, business, and wealth creation (SUBSCRIPTION LINK IN COMMENTS). #SovereignWealthFunds #IndiaGrowth #CreateWealth #Dezerv

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Debt Funds!! There is an interesting correlation between Debt Funds & Equities’ performance. At the outset, as retail investors we do not have much of traction to Debt Funds (MF or retail level bonds etc). This is perfectly understandable given the low returns & lack of indexation. While above is true, please do check the total of assets under Debt Mutual funds every month. Even if you haven’t invested in debt funds it’s worth to check with a click of button. Debt Funds are a strong indication of how well the Economy is poised. As of last FY, Debt Funds stood at 12.62 lakhs crores out of total ~57 lakhs crores of MF AUM There’s always a cloud of doubt around GDP & other statistics which get published every month or every quarter. But Money doesn’t lie. What’s the link between Debt Funds & Economic Health? * Basically Debt funds means the Companies or Businesses borrow money from Market. As long as there is a strong demand of credit, it indirectly means there is strong momentum in Economic activities. There’s no reason for any business to borrow money & pay interest if there’s no need. * The interest rate scenarios of RBI also drives the levels of Debt Mutual Funds. This is again an indication of how the Economy is headed. What is in it for Retail investors? * Only when overall Economy is good & businesses perform well, the Equities market do well. Our lifeline is Equities. It’s evident that we can do well only when there is good traction in Debt Mutual Funds. Money flows don’t lie & it can’t be fabricated. Follow the levels of money in Debt Funds to get an idea of the directions of Equities market. They are strongly connected although we never realise it. Follow me for insights on Personal Finance & Wealth Management. Disc: views own. #personalfinance #wealthmanagement #certifiedfinancialplanner

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Building on Mrunal Jhaveri's insightful reflections, I am compelled to share some thoughts on the dynamic landscape of venture investment through family offices—a domain not many venture into but one that holds immense potential for long-term impact. The road to establishing Ice.vc, as Mrunal describes, is paved with practical lessons that resonate across investment strategies and personal experiences alike. The clarity in focusing on core competencies rather than getting sidetracked by trying to offer everything to portfolio companies is something that resonates deeply. In an ever-evolving market landscape, flexibility and adaptability remain crucial. Furthermore, maintaining structured policies and decision-making frameworks isn't just a best practice; it's imperative for avoiding unnecessary disruptions. Clearly defining roles within the family office setup, just as Mrunal does with his brother, ensures seamless operations and clarity in execution. The essence of this journey, however, transcends financial metrics. It is about aligning investments with personal values and the overarching vision one cherishes—creating a legacy that's more meaningful than mere numbers. These insights continue to shape the future of investments and offer a beacon for those brave enough to innovate and invest in line with their own values.

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We've been part of this journey with Vidur Kataria Sidhanth Madan & Radhika Mittal since the pre-seed round in 2020 (also closer to heart since this was the first deal from Fund II). The investment thesis for us was always very simple - we tried cooking Chinese food at home during Covid, and all that was available was "Ching's Secret Schezwan Fried Rice Masala" & it was surprising that the second most enjoyed cuisine in the country is Chinese & we have just one brand that catered to this audience. Then we ended tasting the Masterchow sauces & we were just floored to see the difference in quality and taste. Having said that, the thesis that we believed in, didn't ring a bell with a lot of folks that we spoke to in the last 4 years. These were the top reasons why VCs hesitated -> 1) Market size is not large enough - Our belief was that the market appeared to be small, because the only brand available thus far was Ching's. Then Ching's got sold to Tata for ~5500cr, then noone questioned the market size any more. 2) Products are too expensive - Their sauces which was the first category they got into - was priced at ~Rs.240. Lot of people thought that this was expensive for India. But that was just the first category, after that in just last 2 years the founders have innovated on the product (Cup Noodles, Ramen, Chilli oil) and made products cheaper (Masterchow Staples, Chowmein, Schezwan). But I'm glad we got some believers along the way in the form of Anicut Capital LLP & Surge. And now, Tanglin Venture Partners. The founders continue to surprise everyone & I believe they'll do so in the future as well! #startup #funding #fmcg https://lnkd.in/g2wdAvmx

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We hear there is discomfort amid distributors of large FMCG companies over quick commerce engagement !! While this mostly is "profit booking", it will be interesting to see how FMCG companies find a path to pacify all stakeholders and continue to maintain path of growth

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Out of 144 crore Indians, ~76 crore have Pan card ~ 51 crore have PM Jan Dhan accounts So, essentially, 51 crore can also become TAM for other financial products - easiest pitch is an index fund. As of December 2023, there are only 4 crore unique mutual fund investors. That's a clear 12x untapped opportunity. To complement, NSE Indices (Formerly known as IISL) has 395+ indices floating around. Still, fund houses seem to be focusing on active funds. Mindless Telegram channels are busy luring people into F&O. On the other hand, Vanguards and BlackRocks of the world already have plenty of index funds. India's AMCs can follow: One handy example is equal weight indices. Please launch some more passive funds, it is necessary for healthy deepening of the market. Let's move away from market frenzy, expectations of 20%+ returns and race to generate more alpha. HNIs can indulge into other flashy products. But for the rest of us - Let's not forget: Fast & furious looks good in movies, not irl. Slow and steady wins the race 💪 P.S. Share this if you agree. #index #mutualfunds #personalfinance #investing

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